Lengthy list of state and local officials announce their opposition to the #Prop10 rent control expansion headlined by former LA mayor @antonio4ca. Current LA mayor @ericgarcetti is in supportpic.twitter.com/WYGXXm2kCK
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“The state and local leaders say that Proposition 10 would hurt local budgets and will undermine the state’s efforts to tackle California’s affordable housing crisis by slowing the production of more units for low- and middle-income Californians.”
The CAA spokesperson just on Your Call made economics sound like a protection racket--"If developers can't make as much money as possible, they will refuse to build, not even because of any specific rent control policy, just the *possibility* of new laws." Call their bluff I say.
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